other · Treasury · Rule · Published 1996-12-18 · Effective 1997-01-01 · 61 FR 66561
Document
Document number
96-31639
Federal Register citation
61 FR 66561
CFR reference
12 CFR 545
Type
Rule
Action
Final rule.
Category
other
Sub-agency
Treasury
Publication date
1996-12-18
Effective date
1997-01-01
Treasury docket
No. 96-119
Abstract
The Office of Thrift Supervision (OTS or agency) is today issuing a final rule updating and substantially streamlining its regulations and policy statements concerning subsidiaries and other subordinate organizations in which savings associations have ownership interests (including operating subsidiaries and service corporations) and equity investments (including pass-through investments). These amendments are being made pursuant to the Regulatory Reinvention Initiative of the Vice President's National Performance Review (Reinvention Initiative) and section 303 of the Community Development and Regulatory Improvement Act of 1994 (CDRIA), which requires OTS and other federal banking agencies to review, streamline, and modify regulations and policies to improve efficiency, reduce unnecessary costs, and remove inconsistent, outmoded and duplicative requirements.